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JAMB Economics 1981 Question 21

Question 21

Industrialisation

The process by which West African countries attempt to reduce the import of manufactured goods by encouraging firms to produce these goods at home is known as

  1. A.industrialization
  2. B.export-promotion
  3. C.import-substitution
  4. D.export-substitution
  5. E.import-expansion.
Show the answer and explanation

Answer: C (import-substitution)

Explanation

Producing at home the goods that used to be imported is called import substitution.